This chemical is primarily used in the production of biodegradable plastics and polymers. It serves as a key intermediate in the synthesis of polyesters and polyurethanes, which are utilized in various industries for manufacturing eco-friendly packaging materials, disposable products, and coatings. Its ability to enhance the flexibility and durability of polymers makes it valuable in creating materials that require both strength and biodegradability. Additionally, it is employed in the development of controlled-release drug delivery systems, where its properties help in the gradual release of active pharmaceutical ingredients. In the cosmetic industry, it is used as a stabilizer and plasticizer in formulations for creams, lotions, and other personal care products.